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Consecutive Soybean Oil CSO Contract Specs

Contract Unit One long Soybean Oil futures contract (of a specified month) consisting of 60,000 pounds, and one short Soybean Oil futures contract (of a differing specified month) consisting of 60,000 pounds.
Minimum Price Fluctuation 5/1000 of one cent $.00005 per pound = $3.00 per contract
Price Quotation The price basis shall be defined as the specified nearby Soybean Oil futures contract month price minus the specified deferred Soybean Oil futures contract month price.
Trading Hours CME Globex: Sunday - Friday: 7:00 p.m. - 7:45 a.m. CT and
Monday - Friday: 8:30 a.m. - 1:20 p.m. CT
Open Outcry: Monday - Friday: 8:30 a.m. - 1:15 p.m.
CT with Post session until 1:20 p.m. CT immediately following the close
CME ClearPort: Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday from 5:45 p.m. – 6:00 p.m. CT
Product Code CME Globex: CZL
CME ClearPort: COY
Open Outcry: COY
Clearing: COY
Listed Contracts The nearby eight successive future calendar spreads (Sept-Oct, Oct-Dec, Dec-Jan, Jan-Mar, Mar-May, May-Jul, Jul-Aug, Aug-Sep)
Termination Of Trading Trading terminates on the last Friday which precedes by at least two business days the last business day of the month prior to the contract month. Trading in expiring options ceases at the close of the regular CME Globex trading session for the corresponding futures contract.
Position Limits CBOT Position Limits
Exchange Rulebook CBOT 12B
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures Trading shall be conducted for put and call options with striking prices in integral multiples of five one-hundredths of one cent ($.0005). More details on strike price intervals are outlined in Rule 12B01.E.
Exercise Style The buyer of a futures calendar spread option may exercise the option only upon expiration by giving notice to the Clearing House by 5:30 p.m. Chicago time. Option exercise results in an underlying futures market position. Options in-the-money on the last day of trading are automatically exercised absent contrary instructions.
Settlement Method Deliverable
Underlying Soybean Oil Futures